Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Market remains in a downward movement phase. And it looks like the movement might be cut only at the area of the last structure’s low (1.2870).

H1-chart:

Downward structure is getting ready to switch to corrective upswing. Its development potential will reside at the pivot-zone 1.2970-1.2974, where bears can take the driver’s seat again.

Conclusions:

Upward reversal from 1.2870 and start of correction in direction 1.2970.

Trading recommendations:

Longs from 1.2870 to 1.2970. 

 

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